Hanpass, a South Korea-based fintech focused on cross-border payments, plans to expand beyond remittances into a digital finance platform for foreign residents and tourists using stablecoin-based settlement.

Chief executive Lee Keun-joo said the company is running four proof-of-concept projects covering overseas payments for Koreans, salary-linked remittances for foreign workers, a GoHanpass Wallet 2.0-based payment platform for tourists in Korea, and a business-to-business (B2B) trade-settlement application programming interface.

Hanpass said it will make the Philippines its first overseas market, followed by Japan and Australia.

The company said it has built a remittance network spanning more than 200 countries and processed about 5.6 trillion won (US$3.83 billion) in cumulative remittances.

Hanpass said it holds licenses for remittance, foreign exchange, and payment gateway operations in Korea. But its stablecoin plans come as South Korea still lacks dedicated stablecoin regulations, and domestic issuance of stablecoins is prohibited under current rules.

🔗 Source: Chosun Daily